NV Energy Inc. wants to keep its general rates at current levels and is not asking for any additional revenue for its core operations over the next three years in southern Nevada.
The Berkshire Hathaway Energy subsidiary, which operates Nevada Power Co. in southern Nevada, said it is legally required to file the rate review application in accordance with a state law that requires the Public Utilities Commission to conduct triennial general rate reviews of its jurisdictional utilities.
"We would not have made this filing if we weren't legally required to do so, because we are not asking for any more money to run our core operations," NV Energy President and CEO Paul Caudill said in a press release.
Should the PUC grant the application as filed, the average residential electric bill in southern Nevada will be about the same as it was in 2008, NV Energy said. While single-family residential customers will keep the same rates, some customer classes will get lower rates, the company said.
NV Energy did not increase revenue for its core operations in the last rate case in 2014, but customers received part of a $15 million credit Berkshire Hathaway promised to pay when it acquired NV Energy, including Nevada Power's sister utility, Sierra Pacific Power Co. in northern Nevada.
In other proceedings, Sierra Pacific Power and Nevada Power on March 1 filed requests for various other rate changes. The utilities are seeking approval for electric deferred energy accounting adjustments for fuel and purchased power expenses for 2016, as well as changes to their temporary renewable energy development charges, renewable energy program rates, base energy efficiency program rates, base energy efficiency implementation rates, energy efficiency program amortization rates and energy efficiency implementation amortization rates.
As a result of these adjustments, Sierra Pacific Power is seeking approval for a revenue increase of $28.11 million, or a 4.5% average rate increase across all rate classes, and Nevada Power is asking for a $9.88 million revenue increase, or 0.46% average rate increase, according to a June 1 public notice. The impact to individual rate classes will vary. Evidentiary hearings are set for Aug. 15-17. These new rates would take effect on Oct. 1.